Second Appeal has been filed against the judgment and decree dated 11.09.2006 made in A.S.No.97 of 2006 on the file of the learned VII Additional District Judge, City Civil Court, Chennai, reversing the judgment and decree passed by the learned XVII Assistant Judge, City Civil Court, Chennai, dated 11.01.2005 passed in O.S.No.5630 of 2000.

2. It is the case of the plaintiff before the trial court that the defendant borrowed a sum of Rs.45,000/- from the plaintiff by executing a promissory note dated 27.11.1997, at Chennai, in favour of the plaintiff promising to repay the amount with interest at 24% per annum on demand. Despite repeated demands and legal notice dated 23.03.2000 issued by the plaintiff, the defendant failed and neglected to repay the principal and interest amount. Hence, the suit for recovery of a sum of Rs.74,190/- with interest at 24% per annum on Rs.45,000/- from the date of the suit till realisation.

3. The defendant filed written statement denying the execution of promissory note by him and his liability to repay the amount, issuance of legal notice by the plaintiff etc. The defendant submitted that he is working as clerk in Indian Overseas Bank and earn